LexinFintech Holdings Ltd 6-K, filed Aug 7, 2025

LexinFintech Holdings Ltd. (LX)

6-K 2025-08-07 For: 2025-08-07

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Added on April 08, 2026

About this 6-K

LexinFintech Holdings Ltd filed this 6-K on August 7, 2025.

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LexinFintech Holdings Ltd.

By		/s/ James Xigui Zheng
Name:		James Xigui Zheng
Title:		Chief Financial Officer


	As of
(In thousands)	December 31, 2024			June 30, 2025
	RMB			RMB			US$
ASSETS
Current Assets
Cash and cash equivalents		2,254,213			2,077,282			289,977
Restricted cash		1,638,479			1,422,365			198,554
Restricted term deposit and short-term investments		138,497			395,276			55,178
Short-term financing receivables, net(1)		4,668,715			5,427,917			757,708
Short-term contract assets and receivables, net(1)		5,448,057			4,663,987			651,067
Deposits to insurance companies and guarantee companies		2,355,343			2,201,097			307,261
Prepayments and other current assets		1,321,340			1,758,027			245,411
Amounts due from related parties		61,722			83,887			11,710
Inventories, net		22,345			29,886			4,172
Total Current Assets		17,908,711			18,059,724			2,521,038
Non-current Assets
Restricted cash		100,860			71,588			9,993
Long-term financing receivables, net(1)		112,427			90,781			12,673
Long-term contract assets and receivables, net(1)		317,402			283,031			39,510
Property, equipment and software, net		613,110			803,776			112,203
Land use rights, net		862,867			845,667			118,051
Long‑term investments		284,197			239,498			33,433
Deferred tax assets		1,540,842			1,687,365			235,547
Other assets		500,363			433,358			60,494
Total Non-current Assets		4,332,068			4,455,064			621,904
TOTAL ASSETS		22,240,779			22,514,788			3,142,942

LIABILITIES
Current liabilities
Accounts payable		74,443			72,045			10,057
Amounts due to related parties		10,927			13,431			1,875
Short-term borrowings and current portion of long-term borrowings		690,772			841,506			117,470
Short‑term funding debts		2,754,454			2,811,878			392,523
Deferred guarantee income		975,102			1,224,450			170,927
Contingent guarantee liabilities		1,079,000			675,974			94,362
Accruals and other current liabilities		4,019,676			3,938,086			549,734
Total Current Liabilities		9,604,374			9,577,370			1,336,948
Non-current Liabilities
Long-term borrowings		585,024			569,690			79,526
Long‑term funding debts		1,197,211			653,349			91,204
Deferred tax liabilities		91,380			102,705			14,337
Other long-term liabilities		22,784			6,775			946
Total Non-current Liabilities		1,896,399			1,332,519			186,013
TOTAL LIABILITIES		11,500,773			10,909,889			1,522,961
Shareholders’ equity:
Class A Ordinary Shares		205			205			30
Class B Ordinary Shares		41			41			7
Treasury stock		(328,764	)		(293,815	)		(41,015	)
Additional paid-in capital		3,314,866			3,348,303			467,405
Statutory reserves		1,178,309			1,178,309			164,484
Accumulated other comprehensive income		(29,559	)		(24,123	)		(3,367	)
Retained earnings		6,604,908			7,395,979			1,032,437
Total shareholders’ equity		10,740,006			11,604,899			1,619,981
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		22,240,779			22,514,788			3,142,942


	For the Three Months Ended June 30,									For the Six Months Ended June 30,
(In thousands, except for share and per share data)	2024			2025						2024			2025
	RMB			RMB			US$			RMB			RMB			US$
Operating revenue:
Credit facilitation service income		2,669,093			2,269,846			316,858			5,317,571			4,460,712			622,691
Loan facilitation and servicing fees-credit oriented		1,433,416			1,130,734			157,844			2,850,664			2,266,963			316,456
Guarantee income		722,288			571,181			79,734			1,466,539			1,118,995			156,206
Financing income		513,389			567,931			79,280			1,000,368			1,074,754			150,030
Tech-empowerment service income		534,548			830,124			115,881			896,091			1,454,974			203,107
Installment e-commerce platform service income		437,047			487,444			68,045			668,956			775,827			108,301
Total operating revenue		3,640,688			3,587,414			500,784			6,882,618			6,691,513			934,099
Operating cost
Cost of sales		(422,933	)		(425,900	)		(59,453	)		(658,680	)		(687,932	)		(96,032	)
Funding cost		(90,525	)		(59,940	)		(8,367	)		(181,263	)		(142,944	)		(19,954	)
Processing and servicing cost		(518,692	)		(605,652	)		(84,546	)		(1,106,423	)		(1,156,793	)		(161,482	)
Provision for financing receivables		(170,974	)		(256,857	)		(35,856	)		(307,657	)		(439,006	)		(61,283	)
Provision for contract assets and receivables		(154,778	)		(164,224	)		(22,925	)		(320,720	)		(293,909	)		(41,028	)
Provision for contingent guarantee liabilities		(934,693	)		(802,157	)		(111,977	)		(1,763,070	)		(1,479,337	)		(206,507	)
Total operating cost		(2,292,595	)		(2,314,730	)		(323,124	)		(4,337,813	)		(4,199,921	)		(586,286	)
Gross profit		1,348,093			1,272,684			177,660			2,544,805			2,491,592			347,813
Operating expenses:
Sales and marketing expenses		(467,423	)		(567,025	)		(79,154	)		(885,040	)		(1,060,153	)		(147,992	)
Research and development expenses		(143,250	)		(157,680	)		(22,011	)		(278,232	)		(313,306	)		(43,736	)
General and administrative expenses		(100,434	)		(96,010	)		(13,402	)		(190,194	)		(196,763	)		(27,467	)
Total operating expenses		(711,107	)		(820,715	)		(114,567	)		(1,353,466	)		(1,570,222	)		(219,195	)
Change in fair value of financial guarantee derivatives and loans at fair value		(368,261	)		184,089			25,698			(684,184	)		258,728			36,117
Interest expense, net		1,988			(4,621	)		(645	)		(1,916	)		(9,323	)		(1,301	)
Investment income/(loss)		260			(5,126	)		(716	)		350			(16,825	)		(2,349	)
Others, net		15,603			4,997			698			36,028			8,829			1,232
Income before income tax expense		286,576			631,308			88,128			541,617			1,162,779			162,317
Income tax expense		(60,045	)		(119,907	)		(16,738	)		(113,463	)		(221,054	)		(30,858	)
Net income		226,531			511,401			71,390			428,154			941,725			131,459
Net income attributable to ordinary shareholders of the Company		226,531			511,401			71,390			428,154			941,725			131,459

Net income per ordinary share attributable to ordinary shareholders of the Company
Basic		0.68			1.50			0.21			1.30			2.78			0.39
Diluted		0.68			1.43			0.20			1.30			2.62			0.37

Net income per ADS attributable to ordinary shareholders of the Company
Basic		1.37			3.00			0.42			2.59			5.55			0.77
Diluted		1.35			2.85			0.40			2.59			5.25			0.73

Weighted average ordinary shares outstanding
Basic		330,780,601			340,489,447			340,489,447			330,528,871			339,288,258			339,288,258
Diluted		335,192,422			358,475,575			358,475,575			334,421,262			359,067,911			359,067,911


	For the Three Months Ended June 30,							For the Six Months Ended June 30,
(In thousands)	2024			2025				2024			2025
	RMB			RMB		US$		RMB			RMB		US$
Net income		226,531			511,401		71,390		428,154			941,725		131,459
Other comprehensive income
Foreign currency translation adjustment, net of nil tax		(13,554	)		7,695		1,074		(11,231	)		5,436		759
Total comprehensive income		212,977			519,096		72,464		416,923			947,161		132,218
Total comprehensive income attributable to ordinary shareholders of the Company		212,977			519,096		72,464		416,923			947,161		132,218


	For the Three Months Ended June 30,							For the Six Months Ended June 30,
(In thousands, except for share and per share data)	2024			2025				2024			2025
	RMB			RMB		US$		RMB			RMB		US$
Reconciliation of Adjusted net income attributable to ordinary shareholders of the Company to Net income attributable to ordinary shareholders of the Company
Net income attributable to ordinary shareholders of the Company		226,531			511,401		71,390		428,154			941,725		131,459
Add: Share-based compensation expenses		23,119			24,183		3,376		46,393			53,724		7,500
Interest expense associated with convertible notes		373			-		-		5,695			-		-
Investment (income)/loss		(260	)		5,126		716		(350	)		16,825		2,349
Adjusted net income attributable to ordinary shareholders of the Company		249,763			540,710		75,482		479,892			1,012,274		141,308

Adjusted net income per ordinary share attributable to ordinary shareholders of the Company
Basic		0.76			1.59		0.22		1.45			2.98		0.42
Diluted		0.75			1.51		0.21		1.43			2.82		0.39

Adjusted net income per ADS attributable to ordinary shareholders of the Company
Basic		1.51			3.18		0.44		2.90			5.97		0.83
Diluted		1.49			3.02		0.42		2.87			5.64		0.79

Weighted average shares used in calculating net income per ordinary share for non-GAAP EPS
Basic		330,780,601			340,489,447		340,489,447		330,528,871			339,288,258		339,288,258
Diluted		335,192,422			358,475,575		358,475,575		334,421,262			359,067,911		359,067,911

Reconciliations of Non-GAAP EBIT to Net income
Net income		226,531			511,401		71,390		428,154			941,725		131,459
Add: Income tax expense		60,045			119,907		16,738		113,463			221,054		30,858
Share-based compensation expenses		23,119			24,183		3,376		46,393			53,724		7,500
Interest expense, net		(1,988	)		4,621		645		1,916			9,323		1,301
Investment (income)/loss		(260	)		5,126		716		(350	)		16,825		2,349
Non-GAAP EBIT		307,447			665,238		92,865		589,576			1,242,651		173,467